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For US federal tax purposes, how does depreciation differ from depletion of an asset? O Depletion is not based on time but instead on the
For US federal tax purposes, how does depreciation differ from depletion of an asset? O Depletion is not based on time but instead on the amount of resources removed, while depreciation is the process of decreasing the value of the asset. Depletion must use the straight-line method for IRS tax purposes, whereas depreciation can use any type of method
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